Laden…
MUFG said the USD/CNY decline on Friday was the largest daily drop since March 2018, and it expects further catch-up as Chinese markets return from a week-long holiday. The decline was driven by optimism over a US fiscal stimulus deal and rising expectations of a Biden election victory.
MUFG warned that the stimulus outlook carries disappointment risk.
A weaker dollar and stronger yuan support Chinese import demand and dollar-priced commodities. The effect on feed prices is modest and depends on whether stimulus materializes.
forexcrunch.comFX Street9 okt 2020Na 1.637 eerdere neerwaarts macro-gebeurtenissen bewoog Amerikaanse dollar (breed) zich mediaan -0,2% over 5 sessies (39% hoger; middelste helft -0,6% tot +0,3%), en -0,2% over 20.
Na 362 eerdere neerwaarts macro-gebeurtenissen bewoog Chinese yuan (CNY per USD) zich mediaan -0,1% over 5 sessies (42% hoger; middelste helft -0,4% tot +0,1%), en -0,2% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
MUFG attributes the largest daily USD/CNY drop since March 2018 to catch-up after the Chinese holiday, US stimulus optimism and Biden election expectations, directly explaining the move.
